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£10 million in flood funding for stricken SMEs

17 February 2014 #Bus and Coach #CV Sector #Logistics #News #Policy #Trailer #Truck #Van

Small and medium-sized businesses hit by flooding could benefit from financial support in a new £10 million package announced by government today.

Although there is no cap on maximum payments under the Business Support Scheme hardship funding, government suggests that equivalent schemes have seen average claims of £2,500 per business.

Local authorities will provide the money and found out how much of the £10 million they are each to receive on Thursday 20 February.

Business will be able to claim for clean-up costs, materials and exceptional costs to keep them trading, but the councils are meant to work with business to ensure the cash does not duplicated what is to be received by companies through their insurers.

A government business support line has also been established on 0300 453565 to help affected companies with a free, one-our advice call.

Companies House will also accept late accounts from businesses affected by flooding without the usual penalties.


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